FIS Completes Sale of Majority Stake of Worldpay to GTCR

FIS, a global leader in financial technology, announced the completion of the previously announced sale of a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR in a transaction valuing the business at an enterprise value of $18.5 billion, including $1 billion of consideration contingent on the returns realized by GTCR exceeding certain thresholds. The completion of the transaction reinforces FIS’ position as a global enterprise software provider, supported by favorable industry trends, a set of global clients and a broad range of products and solutions. As a more focused company with a stronger balance sheet, FIS will have greater strategic and operational agility by simplifying operations and driving faster innovation across its portfolio of solutions. FIS and Worldpay have entered into commercial agreements that will allow FIS to retain access to Worldpay’s marquee portfolio of commercial clients to continue to offer its financial technology solutions and Worldpay to retain access to FIS’ financial institution clients as it continues to scale its bank channel. Following the transaction close, Worldpay will establish a Board of Directors in-line with its change in ownership.